YOUR RIGHTS AND RESPONSIBILITIES
The Electronic Fund Transfers we are capable of handling for consumers are
indicated below, some of which may not apply to your account. Please read this
disclosure carefully because it tells you your rights and obligations for these
transactions. You should keep this notice for future reference.
- TRANSFER TYPES AND LIMITATIONS
- Terminal Transfers. You may use your card and/or code to make:
- Cash withdrawals from checking accounts.
- Cash withdrawals from savings accounts.
- Deposits to checking accounts.
- Deposits to savings accounts.
- Transfers of funds between checking and savings accounts upon request.
- Balance inquiry available at selected locations.
Some of the services may not be available at all terminals.
- Prearranged Transfers. You may arrange for us to:
- Accept certain direct deposits to your checking account.
- Accept certain direct deposits to your savings account.
- Pay certain recurring bills from your checking account in the amounts
and on the days you request.
- Pay certain recurring bills from your savings account in the amounts and
on the days you request.
- Limitations on frequency of transfers.
- You may make only _________ cash withdrawals for our terminals each
- You may withdraw up to your personal daily withdrawal limit per day (if
funds are available).
- Transfers from a money market deposit accounts or a savings account to
another account or to third parties by preauthorized, automatic, or
statement cycle with no more than three by check, debit card or similar
order to third parties.
- For security reasons, there are other limits on the number of transfers
you can make through our terminals.
- Limitations on dollar amounts of transfers.
- The limit for terminal _______________________________________.
- We charge ___________ each ____________________ to our customers whose
accounts are set up to use ________________________.
- We charge ___________ each __________________ but only if the
________________ balance in the _________________ falls below
_____________ during the ____________.
Except as indicated above, we do not charge for Electronic Fund Transfers.
- Terminal Transfers. You can get a receipt at the time you make any
transfer to or from your account using one of our terminals.
- Preauthorized Credits. If you have arranged to have direct deposits made
to your account at least once every 60 days from the same person or company,
you can call us at the telephone number listed below to find out whether or
not the deposit has been made.
- In addition,
- You will get a monthly account statement from us, unless there are no
transfers in a particular month. In any case you will get a statement at
- You will get a quarterly statement from us on your savings account if
the only possible electronic transfer to or from the account is a
- If you bring your passbook to us, we will record any electronic deposits
that were made to your account since the last time you brought in your
- PREAUTHORIZED PAYMENTS
- Right to stop payment and procedure for doing so. If you have told us in
advance to make regular payments out of your account, you can stop any of
these payments. Hereís how:
Call or write us at the telephone number or address listed in this
disclosure, in time for us to receive your request 3 business days or more
before the payment is scheduled to be made. If you call, we may also require
you to put your request in writing and get it to us within 14 days after you
- Notice of varying amounts. If these regular payments may vary in amount,
the person you are going to pay will tell you, 10 days before each payment,
when it will be made and how much it will be. (You may choose instead to get
this notice only when the payment would differ by more than a certain amount
form the previous payment, or when the amount would fall outside certain
limits that you set.)
- Liability for failure to stop payment of preauthorized transfer. If you
order us to stop one of these payment 3 business days or more before the
transfer is scheduled, and we do not do so, we will be liable for your
losses or damages.
- FINANCIAL INSTITUTIONíS LIABILITY
- Liability for failure to make transfers. If we do not complete a transfer
to or from your account on time or in the correct amount according to our
agreement with you, we will be liable for your losses or damages. However,
there are some exceptions. We will not be liable, for instance:
- If, through no fault of ours, you do not have enough money in your
account to make the transfer.
- If the transfer would go over the credit limit on your overdraft line.
- If the automated teller machine where you are making the transfer does
not have enough cash.
- If the terminal or system was not working properly and you knew about
the breakdown when you started the transfer.
- If circumstances beyond our control (such as fire or flood) prevent the
transfer, despite reasonable precautions that we have taken.
- There may be other exceptions stated in our agreement with you.
- We will disclose information to third parties about your account or the
transfers you make:
- where it is necessary for completing transfers; or
- in order to verify the existence and condition of your account for a
third party, such as a credit bureau or merchant; or
- in order comply with government agency or court order; or
- if you give us written permission.
- UNAUTHORIZED TRANSFERS
- Consumer Liability. Tell us AT ONCE if you believe your card and/or code
has been lost or stolen. Telephoning is the best way of keeping your
possible losses down. You could lose all the money in your account (plus
your maximum overdraft line of credit). If you tell us within 2 business
days, you can lose no more than $50 if someone used your card and/or code
without your permission. (If you believe your card and/or code has been lost
or stolen, and you tell us within 2 business days after you learn of the
loss or theft, you can lose no more than $50 if someone used your card
and/or code without your permission.)
If you do NOT tell us within 2 business days after you learn of the loss or
theft of you card and/or code, and we can prove we could have stopped someone
from using your card and/or code without your permission if you had told us,
you could lose as much as $500.
Also, if you statement shows transfers that you did not make, tell us at
once. If you do not tell us within 60 days after the statement was mailed to
you, you may not get back any money you lost after the 60 days if we can prove
that we could have stopped someone from taking the money if you had told us in
If a good reason (such as a long trip or a hospital stay) kept you from
telling us, we will extend the time periods.
- Contact in event of unauthorized transfer. If you believe your card and/or
code has been lost or stolen or that someone has transferred or may transfer
money from your account without your permission, call or write us at the
telephone number or address listed in this disclosure.
- ERROR RESOLUTION NOTICE
In Case of Errors or Questions About Your Electronic Transfers, Call or
Write us at the telephone number or address listed in this disclosure, as
soon as you can, if you think your statement or receipt is wrong or if you
need more information about a transfer listed on the statement or receipt.
We must hear from you no later than 60 days after we sent the FIRST
statement on which the problem or error appeared.
- Tell us your name and account number (if any).
- Describe the error or the transfer you are unsure about, and explain as
clearly as you can why you believe it is an error or why you need more
- Tell us the dollar amount of the suspected error.
If you tell us orally, we may require that you send us your complaint or
question in writing within 10 business days.
We will tell you the results of our investigation within 10 business days (20
business days for point-of-sale or foreign-initiated transfers) after we hear
from you and will correct any error promptly. If we need more time, however, we
may take up to 45 days (90 days for point-of-sale or foreign-initiated
transfers) to investigate your complaint or question. If we decide to do this,
we will credit your account within 10 business days (20 business days for
point-of-sale or foreign-initiated transfers) for the amount you think is in
error, so that you will have the use of the money during the time it takes us to
complete our investigation. If we ask you to put your complaint or question in
writing and we do not receive it within 10 business days, we may not credit your
If we decide that there was no error, we will send you a written explanation
within 3 business days after we finish our investigation. You may ask for copies
of the documents that we used in our investigation.
For problem resolution call:
Monticello Banking Company
50 North Main
Monticello, KY 42633